News: Vancouver Real Estate Market

   Property in the Lower Mainland continues to attract investors world-wide. It is therefore important for you (the non-resident) to understand Canada’s tax laws to help avoid mistakes and pitfalls. Here is a brief summary of information, relevant to you the foreign investor:

 

Resident or non-resident?


Under Canada’s income tax system, whether an individual is a resident or a non-resident can play a role in how much tax you will pay.

  • As a resident you must pay Canadian...
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Metro Vancouver apartment building sales are on par with last year, although values have soared in the central city,
according to a recently released report.

 

“They [buyers] are buying tired buildings that haven’t been kept up and then spending a lot of money on renovating
them,” said apartment broker David Goodman, co-owner of HQ Commercial Real Estate Services and author of the
Goodman Report, a Metro Vancouver apartment building market review.

 

The report concluded...

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Canada's Housing Market at a Tipping Point

National price appreciation forecast to soften modestly for the remainder of the year

TORONTO, July 10, 2012 – The Royal LePage House Price Survey and Market Survey Forecast released today showed the average price of a home in Canada increased year-over-year between 3.3 and 5.5 per cent in the second quarter of 2012. By the end of 2012, Royal LePage expects national average prices to be 3.2 per cent higher compared to the same period of 2011, in line...

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   The number of residential property sales hit a 10-year low in Greater Vancouver for June, while prices remained relatively stable.

 

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties reached 2,362 in June, a 27.6 per cent decline compared to the 3,262 sales in June 2011 and a 17.2 per cent decline compared to the 2,853 sales in May 2012.

 

June sales were the lowest total for the month in...

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